Basic bank accounts


A basic bank account  is a bank account that provides the account holder with day-to-day banking services. Access to a basic bank account and other requirements associated with this type of account are outlined in legislation that was passed by the European Commission in 2014. The legislation in Ireland is the European Union (Payment Accounts) Regulations 2016.

A basic bank account allows the customer to:

  • Open, operate and close the account.
  • Place funds in the account.
  • Withdraw cash within the European Union from the account either in a branch or at an ATM.
  • Execute direct debits, transactions using a payment card (including online payments) and credit transfers, including standing orders.

A basic bank account is not subject to certain fees for at least 12 months.

You can only apply for a basic bank account if you do not already have an account in Ireland or if you have received notice from your existing provider that your account will be closed.

If you currently have a basic bank account with KBC Bank or Ulster Bank and you need to open a new account with another provider, the process will be the same as when you first opened your basic bank account. However, you will be asked to declare that you have been informed by your existing provider that your basic bank account is being closed. For this reason, it is advisable that you keep the communication from your existing provider safe and bring it with you when opening a new account.

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